Tech Industry
Suzhou to launch second digital RMB gift money distribution worth RMB 30 million
Suzhou, a city in eastern China, will launch its second digital RMB gift money distribution of RMB 30 million yuan on February 5, each amounting to RMB 200, for a total of 150,000 gift money packages.
SMIC plans to expand production of 10,000 wafers on its mature 12-inch line this year
SMIC plans to expand its mature 12-inch line by 10,000 wafers and its mature 8-inch line by no less than 45,000 wafers this year, according to company Co-CEOs Zhao Haijun and Mong-Song Liang.
SMIC's revenue up 10.3% year-on-year to $1.03 billion in Q4
Net income attributable to SMIC shareholders for the quarter was RMB 1.252 billion, up 93.5 percent year-on-year.
Xiaomi, Vivo may launch phones priced over $1.5k
Chinese smartphone makers Xiaomi and Vivo may launch phones with prices over RMB 10,000 ($1,550) this year, according to a well-known Weibo blogger.
China starts commissioning maglev trains with speeds up to 600 km/h
Prior to this, the CR400 series of Chinese Standard EMU “Fuxing” has a maximum speed of 400km/h, with a sustained operating speed of 350km/h, making them the fastest commercially operated trainsets in the world.
Luckin Coffee establishes new technology company with registered capital of $1.5 million
Luckin Coffee, known as "China's Starbucks", has set up a new technology company in Hainan with a registered capital of RMB 10 million ($1.5 million).
Lenovo revenue up 22.3% year-on-year to $17.25 billion in past quarter
Lenovo's revenue for the quarter ended December 31 reached $17.25 billion, up 22.3 percent year-on-year, according to financial reports released today by the tech giant.
Huawei will launch its next-gen foldable phone Mate X2 on February 22
Chinese tech giant Huawei will unveil its next-generation folding flagship Mate X2 on February 22, which will be powered by Kirin 9000 processor.
Genshin Impact allegedly becomes first game to retain 70% revenue in China's Android channel
Genshin Impact, a popular mobile game produced by Chinese game developer miHoYo, had previously avoided distribution on China's Android channel. But now, things have changed.
Tencent and TikTok owner ByteDance sue each other
Beijing-based TikTok owner ByteDance sued Tencent on Tuesday, accusing it of abusing its dominant market position. Tencent responded to the allegations as malicious and said it would file a lawsuit.